header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Aruba:
Economy

Flag of Aruba
Click to enlarge

Aruba Page


Economy - overview
Definition
Tourism is the mainstay of the small, open Aruban economy, with offshore banking and oil refining and storage also important. The rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. Over 1.5 million tourists per year visit Aruba, with 75% of those from the US. Construction continues to boom, with hotel capacity five times the 1985 level. In addition, the country's oil refinery reopened in 1993, providing a major source of employment, foreign exchange earnings, and growth. Tourist arrivals have rebounded strongly following a dip after the 11 September 2001 attacks. The island experiences only a brief low season, and hotel occupancy in 2004 averaged 80%, compared to 68% throughout the rest of the Caribbean. The government has made cutting the budget and trade deficits a high priority.
GDP (purchasing power parity)
Definition - World rank and map
$2.258 billion (2005 est.)
GDP (official exchange rate)
Definition
$2.258 billion (2005 est.)
GDP - real growth rate
Definition - World rank and map
2.4% (2005 est.)
GDP - per capita
Definition - World rank and map
$21,800 (2004 est.)
GDP - composition by sector
Definition
agriculture: 0.4%
industry: 33.3%
services: 66.3% (2002 est.)
Labor force
Definition
41,500 (2004 est.)
Labor force - by occupation
Definition
agriculture: NA%
industry: NA%
services: NA%
note: most employment is in wholesale and retail trade and repair, followed by hotels and restaurants; oil refining
Unemployment rate
Definition - World rank and map
6.9% (2005 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
3.4% (2005)
Budget
Definition
revenues: $507.9 million
expenditures: $577.9 million (2005 est.)
Public debt
Definition - World rank and map
46.3% of GDP (2005)
Agriculture - products
Definition
aloes; livestock; fish
Industries
Definition
tourism, transshipment facilities, oil refining
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
770 million kWh (2005)
Electricity - consumption
Definition - World rank and map
716.1 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
7,052.4 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
2,356 bbl/day (2005)
Oil - consumption
Definition - World rank and map
7,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
68.9 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
230,600 bbl/day (2004)
Oil - imports
Definition - World rank and map
235,000 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006)
Exports
Definition - World rank and map
$124 million f.o.b.; note - includes oil reexports (2006)
Exports - commodities
Definition
live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment
Exports - partners
Definition
Panama 29.7%, Colombia 17%, Netherlands Antilles 13.2%, US 11.3%, Venezuela 10.9%, Netherlands 9.2% (2006)
Imports
Definition - World rank and map
$1.054 billion f.o.b. (2006)
Imports - commodities
Definition
machinery and electrical equipment, crude oil for refining and reexport, chemicals; foodstuffs
Imports - partners
Definition
US 54.6%, Netherlands 12%, UK 4.7% (2006)
Debt - external
Definition - World rank and map
$478.6 million (2005 est.)
Economic aid - recipient
Definition
$11.3 million (2004)
Currency (code)
Definition
Aruban guilder/florin (AWG)
Exchange rates
Definition
Aruban guilders/florins per US dollar - NA (2007), 1.79 (2006), 1.79 (2005), 1.79 (2004), 1.79 (2003)
Fiscal year
Definition
calendar year


Google
 
Web sitesatlas.com